The weight broke with a streak of four sessions with losses and this Monday it was appreciated more strongly than its main international peers, after President Donald Trump claimed that he could give tariff exemptions to many countries.
The US president’s statements followed press reports on the weekend that aimed that his administration could exclude a set of rates to specific sectors by applying reciprocal encumbrances on April 2.
The dollar was at 20,0587 pesos, which meant an appreciation of 0.90% for the Mexican currency compared to the previous session, according to Banxico closing data.
“Today, a Trump vision with some flexibility towards certain countries, but with its firm tone on the stage of sectoral tariffs (cars, and also with wood in the future) stands out,” said Monex Financiero Grupo.
“From our perspective, it would be premature to think that the markets have found their turning point, since although the commercial plane today shows some progress, concerns persist on the economic level,” he added.
Lee: Trump contemplates exceptions in the imposition of reciprocal tariffs in April
At the local level, the session was marked by two reports of inflation and economic activity that strengthened arguments for the Central Bank to continue flexible its monetary policy, as concerns of a recession grow.
According to a reuters survey, the market widely expects the Governing Board to opt for a new a half -point cut at its meeting on Thursday, as it did in February.
The referential shareholding index S&P/BMV IPC closed at 52,674.84 points, without changes against its previous closure, although during the morning it came to rise 0.61%.
Lee: EU plans to exclude tariffs from specific sectors on April 2: Media
The titles of Peoplera, specialized in credit services, headed the increases, with 4.42% more at 31.68 pesos, while those of the Alpha conglomerate were the ones who lost the most with a decline of 3.57% to 16.22 pesos.
In the secondary debt market, the 10 -year bonus yield dropped two base points to 9.44%, while the 20 -year rate descended one, 9.96%.
With Reuters information
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